When Hit & Run comes up on your screen and you want to get away here are many ways how to:

The Throw-Back-drive on the left side of the road slowly. The cars the come to you will drive out of your way creating a barrier for the "cops".

Raging Round-up-Hold R1, X and left also put the "Blow Up Cars In 1 Hit Cheat On" the "cops" that come to you will just blow-up.
*Note:that cheat doesn't always work*

The Smashing Wall-Make sure you are in a car with good handling. If a "cop" is on your tail drive up to a wall fast, quickly hold R1 and turn out of the way of the wall.

Stuipid Cops-Put on the blow-up cars in 1 hit cheat on. Beside the Simpson's house there is a playground. Go to the playground and drive through the BUZZ COLA glass sign wait behind the house. The police will drive straight into the wall of the house!
*Note: If a "cop" goes down by the playground drive into it*